HomeMy WebLinkAbout1235 to foreclose this mortgage and apply for the appointment of a Receiver,
as hereinafter provided; or the mortgagee may make and pay for such
repairs as in its discretion it may beem necessary for the proper pre-
servation thereof, and the full amount of such payments shall be se-
cured by the lien of this mortgage and shall at the option of the mort-
gagee be immediately due and payable, or payable in such monthly
installments as the mortgagee may determine. -
5. To perform, comply with and abide by each and every the sitpu-
lations, agreements, conditions, and covenants in said promissory note
and deed set forth. If any of the sums of money herein referred to be
not promptly and fully paid as the same severally come due and payable,
or if each and every the stipulations, agreements, conditions and
covenants of said promissory note and this deed, or either, are not
duly performed, complied with and abided by, the aggregate sum mentioned
in said promissory note shall become due and payable forthwith or there-
after at the option of the Association, as fully and conQletely as if
said aggregate sum of money was originally stipulated to be paid on such
day, anything~in said promissory note or herein to the contrart notwith-
standing.
6. To execute, acknowledge and deliver, from time to time, such
further instruments as Association may require to accomplish the purposes
of this mortgage,-including, without limitation, Uniform Commercial Code ~
financing statements and continuation forms. ~
7. To deliver to the Association recei is evidencing the payment ~
of all public improvements within ninety (90~ days after the same shall ~
become due and payable, and to pay or discharge within ninety (90) days
after due date any and all governmental levies that may be made on the
mortgaged property, on this mortgage•or note, or in any other way re-
sulting from the mortgage indebtedness secured by this mortgage.
8. Until default in the performance of the covenants and_ agree-
ments of this mortgage, the mortgagor shall be entitled to collect the
rents, issues and profits from the premises hereinbefore described, but
in case of a default in any of the-terms of this mortgage, or the filing
of a complaint to foreclose this or any other mortgage encumbering the
within described property, the Association shall immediately and with-
out notice be entitled to the appointment of a Receiver of the mortgaged
property, and of the rents, issues and profits thereof, with the usual
power of Receivers in such cases,-and such Receiver may be continued
in possession of-the said property until the time of the sale hereof ~
under such foreclosure and until the confirmation of such sale by the
Court.
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9. If all or any part of the Property described herein as security
for this Mortgage, or an interest therein, is sold or transferred by
Borrower without the Association's prior written consent, Association
may, at Association's option, declare all the sums secured by this Mort- -
gage to be immediately due and payable. Association shall have waived
such option to accelerate if, prior to the .sale or transfer, Associa-
tion and the person to whom the Property is to be sold or transferred
reach agree~hent -i n writing that the credi t of such person i s satisfactory
to Association and that the interest payable on the sums secured by this
Mortgage shall be at such rate as Association shall request.
10. In the event the premises hereby mortgaged, or any part there-
of, shall be condemned and taken for public use under the power of
eminent domain, the Association shall have the right to demand that
all damages awarded for the taking of, or damages to, said premises
shall be paid to the Association, its successors or assigns, up to
the anb unt then unpaid. on this mortgage and may be applied upon the
~ payment or payments last payable thereon..
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11. The mortgagor binds itself not to add or permit to be added
to any of the existing improvements herein mortgaged, nor to demolish, j
alter or destroy any material part of the improvements without the
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